§ 34. Aid to defaulting entities prohibited.

Latest version.

The city council shall not expend public money for the purpose of maintaining a public, quasi-public or private corporation, whether profit or nonprofit, a special district or other political subdivision which has defaulted or is in danger of defaulting on any of its debts or obligations, whether secured by bonds, time warrants, certificates of obligation or any other evidence of indebtedness. This section shall not apply to actual arms, branches or departments of the city or to projects totally under the city's control, nor shall it prohibit the city from establishing any special district, corporation or authority by the laws of the State of Texas or of the United States.

(Added April 5, 1980)

                    
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